Research commissioned by Robert Half has highlighted the possible impact of millennials in the workplace. According to Hong Kong companies, the top three qualities brought to the workplace by millennials are increased flexibility (53 per cent), a greater emphasis on soft skills (49 per cent) and an increased emphasis on collaboration and transparency (48 per cent). The report has also shown how employers are adapting to the next generation with 63 per cent refining their hiring processes to adapt to a changing workforce.
“Having grown up with technology constantly at their fingertips, millennials are well-equipped to help companies transform into more agile and digitally-minded enterprises,” says Adam Johnston, managing director of Robert Half Hong Kong. “With all of today’s industries vulnerable to the impact of innovation disruptors, companies need to be able to attract and further develop the necessary tech-savvy talent to tackle today’s business challenges.
“The workforce has never been so multi-generational,” he continued. “In order to leverage the benefits every generation brings to the workforce, extensive collaboration and (reverse) mentoring programs that foster the sharing of experiences will be key to maximising the workforce’s full potential and to meet the changing demands of the market. Demonstrating a consideration for the drivers and expectations of employees will be a major factor in managing this multi-generational workforce.”
When asked what measures they have taken to adapt to an increasingly multi-generational workforce, more than six in 10 (63 per cent) Hong Kong CFOs have adapted their hiring processes to attract top candidates and over half (55 per cent) have increased their level of collaboration among all generations in the workplace – which includes a greater focus on teamwork, brainstorming and relationship building across all company teams. Other measures include (reverse) mentoring programs (39 per cent), open lines of communication (34 per cent) and tailored retention and professional development programs (23 per cent).
“Generally making their career aspirations clear from the start, remuneration and rewards are not always the top priority for millennials. They thrive in flexible and transparent workplaces that offer open lines of communication across the business and they look for professional development programs which ensure their needs for career advancement are met,” added Johnston.
“Hong Kong employers will need to adapt (fast) in order to attract and retain millennial professionals. By refining their hiring practices, and specifically tailoring their talent management programs, Hong Kong companies can ensure they successfully attract the workforce of the future,” he concluded.